SouthGobi Provides Update on Mongolian Independent Authority Against Corruption Investigation; Shrs Fell 4%, Nearer Yr Lows Friday
SouthGobi Resources Ltd. (SGQ.TO) has received notification from the Mongolian Independent Authority Against Corruption (IAAC), that it has concluded its questioning of SouthGobi's Chief Legal Counsel Sarah Armstrong and that she is no longer a suspect in their investigations. The IAAC has informed the company that she will shortly be able to leave the country.
The IAAC has also confirmed to SouthGobi that it is continuing with its investigation into historical licensing issues. The IAAC advised that it is investigating the divestment of certain SouthGobi licenses to third parties, and the involvement and conduct of government officials in connection with this.
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